If you are renting an apartment do you need renters insurance?
To help you decide if you need renters insurance, ask yourself the following.
- Would you be covered for loss by your landlord’s insurance in the event of a fire?
- Does your landlord’s insurance cover the contents of your apartment?
You may not have the coverage you need. Your landlord’s insurance usually covers the building itself not the contents of your apartment.
Renter’s Insurance covers these three areas:
Personal Property
- Contents of your home. (Clothing, furniture, dishes, electronics) If you add up the costs of each of these items, then double it, do you have enough money in your savings to cover the cost? If the answer is no, renters insurance is for you…
Liability
- If someone is injured in your home, renters insurance can protect you from impending lawsuits. Do you have enough money in your savings to cover liability cost? No? Then you need renters insurance.
Unforeseen Living Expense
- If your apartment burns down, renter’s insurance can cover you for the cost of temporary accommodations.
Your local insurance agent would be happy to answer further questions you may have, and help you explore your options.
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